A Couple Stored IRA Gold at Home. They Owe the IRS More Than $300,000.

2 years ago 386

It’s official: Owners of idiosyncratic status accounts with assets invested successful golden and metallic coins can’t store them successful a harmless astatine their home.

So ruled the justice successful a caller Tax Court case, Andrew McNulty et al. v. Commissioner. The determination volition outgo Mr. McNulty and his woman Donna dearly—taxes of astir $270,000 connected astir $730,000 of IRA assets, positive penalties apt to transcend $50,000.

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A Couple Stored IRA Gold at Home. They Owe the IRS More Than $300,000.

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